Babcock & Wilcox Stock (NYSE:BW), Trade Ideas

Babcock & Wilcox

Babcock & Wilcox Enterprises Inc is a power generation equipment supplier and servicing company that operates in three segments: B&W Renewable, B&W Environmental, and B&W Thermal. B&W Thermal, focuses on steam generation products and solutions for plants in the power generation, oil, and gas, and industrial sectors, generates the majority of the company's revenue. B&W Renewable focuses on sustainable power and heat generation while B&W Environmental focuses on emissions control. The company's customer base spans the industrial, electrical utility, and municipal industries located predominantly in the United States, Canada, Denmark, the United Kingdom, and other regions. Business in the U.S. contributes the vast majority of its revenue.

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Babcock &amp; Wilcox Enterprises secures a $246 million gas conversion project deal for a North American power plant through its B&amp;W Thermal business segment. With limited notice to proceed granted, full contract commencement is expected by Q4 2024, signaling a significant shift from coal to natural gas for the plant&#39;s two boilers, totaling over 1,000 megawatts.

Babcock &amp; Wilcox Bags $246M Fuel-Switching Project: Details

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Shares of  Jabil Inc. (NYSE: JBL) fell sharply during Friday’s session after the company reported financial second-quarter results and issued FY25 guidance below estimates.

Why Jabil Shares Are Trading Lower By Over 14%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

Babcock & Wilcox Enterprises, Inc. Common Stock

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<h1 class="wp-block-heading">Top Stories for April 24, 2024:</h1>
<ol>
<li>American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) updated <a href="https://www.benzinga.com/news/24/04/38404516/american-battery-technology-company-publishes-updated-initial-assessment-and-economic-analysis-for-t">its initial assessment</a> for the Tonopah Flats Lithium Project (TFLP).</li>
</ol>
It refined the project&#8217;s scope to use only measured and indicated mineral resources, excluding the more speculative inferred resources.&nbsp;
This strategy improves the project's economics by enhancing access to higher-quality resources and optimizing processing at its newly built demonstration facility. 
Key updates include a 7% reduction in total processed claystone, an 8% increase in lithium grade, a 7% decrease in production costs and a 6% rise in the project&#8217;s net present value to $4.67 billion.
<ol start="2">
<li>Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) reported first-quarter results, with net sales of $4.7 billion and net income of $584 million. </li>
</ol>
Highlights include 3.3 million tons of steel shipments, operating income of $751 million and adjusted EBITDA of $879 million.&nbsp;
The company&#8217;s financial health was further supported by liquidity of $3.1 billion and shareholder returns through $298 million in stock repurchases and an 8% dividend increase.&nbsp;
Demand was solid across sectors, particularly automotive and construction, driving sequential improvements in earnings and operational performance.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/24/04/38390383/copper-prices-approach-2-year-highs-whats-behind-analysts-12-000-price-prediction-for-2026">Copper Prices Approach 2-Year Highs: What&#8217;s Behind Analyst&#8217;s $12,000 Price Prediction For 2026?</a>
<ol start="3">
<li>Gold Royalty Corp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GROY#AMEX">GROY</a>) entered into a three-year mutual cooperation agreement with Taurus Mining Royalty Fund that allows both parties to co-invest in precious metals royalties and streams. </li>
</ol>
The agreement focuses on assets valued at $30 million or more and provides a framework for identifying and evaluating co-investment opportunities, with the option for each party to invest 25% to 50% in selected transactions.&nbsp;
Additionally, any future sales of interests acquired through this partnership will offer first rights to the other partner.
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<li>Coeur Mining Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) released its 2023 ESG Report, emphasizing its progress in environmental, social and governance efforts aligned with shareholder value. </li>
</ol>
The report highlights Coeur&#8217;s achievement of the lowest injury rate among peers at 0.46 and its adoption of the Global Industry Standard on Tailings Management (placing it among the top 17% of non-International Council on Mining and Metals companies).
The company also shared its commitment to biodiversity through the Biodiversity Management Standard and advancements in climate resilience, aiming for a 35% reduction in GHG emissions by the end of 2024.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38405991/equinox-gold-snaps-up-greenstone-gold-mines-for-995m-in-incredibly-rare-deal">Equinox Gold Snaps Up Greenstone Gold Mines For $995 Million In &#8216;Incredibly Rare&#8217; Deal</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Photo: Jose Luis Stephens via Shutterstock.

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American Battery Optimizes Lithium Project; Steel Dynamics Reports Q1 Results; Gold Royalty Teams Up With Taurus Mining And More: Wednesday's Top Mining Stories

Helix Energy Solns Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLX#NYSE">HLX</a>) reported quarterly losses of $(0.03) per share which missed the analyst consensus estimate of $0.02 by 250 percent. The company reported quarterly sales of $296.211 million which missed the analyst consensus estimate of $296.725 million by 0.17 percent. This is a 18.44 percent increase over sales of $250.084 million the same period last year.

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Helix Energy Solns Gr Q1 2024 Adj EPS $(0.03) Misses $0.02 Estimate, Sales $296.211M Miss $296.725M Estimate

National Bank Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBHC#NYSE">NBHC</a>) reported quarterly earnings of $0.82 per share which beat the analyst consensus estimate of $0.76 by 7.89 percent. This is a 22.64 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $101.724 million which missed the analyst consensus estimate of $103.683 million by 1.89 percent. This is a 7.15 percent decrease over sales of $109.554 million the same period last year.

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National Bank Holdings Q1 2024 GAAP EPS $0.82 Beats $0.76 Estimate, Sales $101.724M Miss $103.683M Estimate

In June 2022, New York Gov. Kathy Hochul announced a deal had finally been reached to <a href="https://www.benzinga.com/markets/cannabis/22/01/24932856/new-york-gov-kathy-hochul-pledges-200m-to-boost-social-equity-efforts-as-part-of-cannabis-legali">fund a $200 million public-private effort</a>, which would finance cannabis dispensaries run by the people who have been the most impacted by the war on drugs.
The much-anticipated public-private fund is now coming under scrutiny following an <a href="https://www.thecity.nyc/2024/04/24/cannabis-fund-social-equity-dispensary/">investigation</a> by THE CITY&#8217;s Rosalind Adams, which uncovered a "lopsided deal" favoring the private equity firm Chicago Atlantic Group and raising concerns about the state's social equity goals. 
The agreement heavily favors Chicago Atlantic, leaving the state exposed to significant risks, noted the outlet.
Even the New York Office of Cannabis Management (OCM) cast doubts on the fund&#8217;s viability according to internal OCM documents that questioned whether the deal had overstated the potential revenue and profit potential.
<h1 class="wp-block-heading">What Happened</h1>
New York state, unable to secure a private equity partner, agreed to a $50 million loan from Chicago Atlantic at a 15% interest rate, with all risk borne by the state.
Critics, including Reinvent Albany, an organization that advocates for government transparency and accountability, deemed the deal to have been detrimental to the state and prospective dispensary owners. Legal experts and consultants likened it to distressed debt lending.
Despite the skepticism and advice against the arrangement, negotiations ultimately led to a secret agreement benefiting Chicago Atlantic.
Previously, THE CITY revealed how cannabis licensees who accept loans from the social equity fund are burdened with high construction costs that they don't control and with interest rates that exceed the state's initial estimates.
"Everyone is worried about defaulting because of the rules and regulations of this loan," said Roland Conner, who runs <a href="https://www.benzinga.com/markets/cannabis/23/01/30496199/ny-gov-hochul-announces-opening-of-first-cannabis-shop-owned-by-person-impacted-by-war-on-drugs">Smacked on Bleecker Street</a> in Greenwich Village, the first legal dispensary owned by a person affected by the drug war.
<h1 class="wp-block-heading">Who's Responsible?</h1>
Details of the deal are still secret, with New York state authorities denying Freedom of Information Law requests. The state comptroller&#8217;s office and key lawmakers say they were not informed or involved in the making of the deal, exposing a shocking lack of oversight.
Meanwhile, Chicago Atlantic secured favorable terms, including leasing rights and a $100 million commitment for property development, raising yet more concerns about profiteering at the expense of marginalized communities.
<h1 class="wp-block-heading">Corruption Or Ineptitude?</h1>
The handling of New York&#8217;s cannabis program seems to reflect a corrosive mix of both ineptitude and potential corruption. While officials may have sought to support marginalized groups, their actions suggest a lack of due diligence and transparency.
One element of the story, which you can read in full <a href="https://www.thecity.nyc/2024/04/24/cannabis-fund-social-equity-dispensary/">here</a>, is that social equity applicants are furious.
A Queens shop owner, Dalessio, who was awarded a retail license designated for people impacted by past drug convictions told THE CITY that after a year of back and forth with the fund, he walked away from the deal.
"It just left such a bad taste in my mouth. I warned everyone I could to stay away from this deal," he said.
Photo: Courtesy of Branding Pot via Shutterstock

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Cannabis Saga In The Empire State: Corruption Or Ineptitude? Private Equity Tramples Social Equity, Report Reveals

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) reported quarterly Adj earnings of $0.13 per share which met the analyst consensus estimate. The company reported quarterly sales of $277.600 million which beat the analyst consensus estimate of $272.000 million by 2.06 percent. This is a 10.38 percent increase over sales of $251.500 million the same period last year.

Alamos Gold Q1 Adj EPS $0.13, Inline, Sales $277.600M Beat $272.000M Estimate

Piper Sandler analyst Clarke Jeffries maintains Tyler Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) with a Overweight and maintains $520 price target.

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Analyst Ratings

Piper Sandler Maintains Overweight on Tyler Technologies, Maintains $520 Price Target

Rogers, who will continue to serve as a director of Mativ and will assume the role of Audit Committee Chair.

Management

MATV

Mativ Holdings Appoints Kimberly Ritrievi As Chair Of Board, Succeeding John Rogers

First Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBMS#NASDAQ">FBMS</a>) reported quarterly earnings of $0.65 per share which beat the analyst consensus estimate of $0.59 by 10.17 percent. This is a 24.42 percent decrease over earnings of $0.86 per share from the same period last year. The company reported quarterly sales of $57.341 million which missed the analyst consensus estimate of $59.927 million by 4.32 percent. This is a 11.68 percent decrease over sales of $64.926 million the same period last year.

FBMS

First Bancshares Q1 2024 Adj EPS $0.65 Beats $0.59 Estimate, Sales $57.341M Miss $59.927M Estimate

Guidance

Veris Residential Raises FY24 Core FFO Per Share Outlook From $0.48-$0.53 To $0.50-$0.54, Est $0.53

Colony Bankcorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBAN#NASDAQ">CBAN</a>) reported quarterly earnings of $0.33 per share which beat the analyst consensus estimate of $0.31 by 6.45 percent. This is a 6.45 percent increase over earnings of $0.31 per share from the same period last year. The company reported quarterly sales of $28.141 million which beat the analyst consensus estimate of $27.600 million by 1.96 percent. This is a 0.30 percent decrease over sales of $28.227 million the same period last year.

CBAN

Colony Bankcorp Q1 2024 Adj EPS $0.33 Beats $0.31 Estimate, Sales $28.141M Beat $27.600M Estimate

Needham analyst Mike Matson maintains Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) with a Buy and raises the price target from $71 to $82.

Needham Maintains Buy on Boston Scientific, Raises Price Target to $82

CVB Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVBF#NASDAQ">CVBF</a>) reported quarterly earnings of $0.35 per share which beat the analyst consensus estimate of $0.34 by 2.94 percent. This is a 16.67 percent decrease over earnings of $0.42 per share from the same period last year. The company reported quarterly sales of $126.574 million which beat the analyst consensus estimate of $116.576 million by 8.58 percent. This is a 8.89 percent decrease over sales of $138.930 million the same period last year.

CVBF

CVB Financial Q1 2024 GAAP EPS $0.35 Beats $0.34 Estimate, Sales $126.574M Beat $116.576M Estimate

Bridgewater Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWB#NASDAQ">BWB</a>) reported quarterly earnings of $0.24 per share which missed the analyst consensus estimate of $0.25 by 4 percent. This is a 35.14 percent decrease over earnings of $0.37 per share from the same period last year. The company reported quarterly sales of $26.181 million which missed the analyst consensus estimate of $27.033 million by 3.15 percent. This is a 13.50 percent decrease over sales of $30.267 million the same period last year.

Bridgewater Bancshares Q1 2024 GAAP EPS $0.24 Misses $0.25 Estimate, Sales $26.181M Miss $27.033M Estimate

U.S. President Joe Biden&#8216;s recent signing of legislation has thrown ByteDance&#8217;s TikTok into the spotlight, with CEO Shou Zi Chew saying <a href="https://www.benzinga.com/news/24/03/38001945/amid-us-china-tussle-tiktok-content-creators-worry-about-bread-and-butter-if-app-ban-succeeds">the platform will fight back.</a>
&#8220;Make no mistake, this is a ban, a ban on TikTok and a ban on you and your voice,&#8221; the CEO said in a two-minute&nbsp;<a href="https://www.tiktok.com/@tiktok/video/7361448925972155679" target="_blank" rel="noreferrer noopener">video</a>&nbsp;posted to TikTok&#8217;s main corporate account.
See Also: <a href="https://www.benzinga.com/news/24/04/38372058/analyst-predicts-tiktok-shutdown-in-us-by-next-year-ahead-of-senate-vote-will-not-operate-here">Analyst Predicts TikTok Shutdown In US By Next Year Ahead Of Senate Vote: &#8216;Will Not Operate Here&#8230;&#8217;</a>
Chew&#8217;s statement, delivered Wednesday, April 24, continued: &#8220;Politicians may say otherwise. But don't get confused. Many who sponsored the bill admit a TikTok ban is their ultimate goal.&#8221;
The legislation, part of a $95 million foreign aid package supporting Israel and Ukraine, was widely supported by the U.S. Senate and the House of Representatives.
It gives ByteDance, TikTok&#8217;s parent company, 270 days to find new owners. If ByteDance fails to comply, TikTok faces removal from Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google app stores in the U.S., People magazine <a href="https://people.com/tiktok-ceo-says-we-arent-going-anywhere-biden-signs-potential-ban-into-law-8638226">reported. </a>
Additionally, there&#8217;s a provision for a three-month extension if a sale is in progress by the initial deadline.
<h1 class="wp-block-heading">ByteDance&#8217;s TikTok Fights Back Against Ban</h1>
TikTok&#8217;s uncertain future stems from discussions that began during the COVID-19 pandemic. Former President Donald Trump initially proposed banning the app in April 2020, a move later paused by the Biden administration in February 2021. Currently, TikTok boasts 170 million American users.
The legislation presents concerns about security, with fears that TikTok could be used for Chinese surveillance or data access. TikTok denies these allegations, and the Chinese government asserts there&#8217;s no evidence supporting claims of national security threats. 
TikTok plans to challenge the legislation, citing freedom of speech. In his video, Chew expressed confidence in their legal fight: &#8220;Rest assured, we aren&#8217;t going anywhere.&#8221; 
&#8220;We are confident and we will keep fighting for your rights in the courts&#8230; The facts and the U.S. Constitution are on our side, and we expect to prevail again,&#8221; he added. 
<h1 class="wp-block-heading">Can I Keep Using TikTok? Exploring The Ban&#8217;s Impact</h1>
Don&#8217;t worry, TikTok won&#8217;t just vanish from your phone overnight.
It&#8217;s likely to be at least a year before any ban takes effect, with potential legal challenges possibly extending the timeline further. While TikTok has succeeded in court before, this marks a new challenge against federal legislation.
Concerning your TikTok app, it&#8217;s unlikely to disappear from your phone immediately. However, if the ban goes into effect it may vanish from Apple and Google&#8217;s app stores, meaning no new downloads, updates, or fixes, as <a href="https://www.nbcnewyork.com/news/national-international/tiktok-ban-us-what-to-know/5350848/#:~:text=No%2C%20TikTok%20will%20not%20suddenly%20disappear%20from%20your%20phone.">per</a> NBC New York. 
Over time, this could pose security risks and usability challenges.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">Microsoft And Oracle Could Be TikTok&#8217;s &#8216;Likely Buyers,&#8217; But Real Winners Would Be Mark Zuckerberg And Sundar Pichai</a>
Photo: <a href="https://www.shutterstock.com/es/g/salarko">salarko</a> on Shutterstock.